Evening Star Newspaper, October 2, 1930, Page 25

THE EVENING STAR, WASHINGTON, D. C, THURSDAY, OCTOBER 2, 1930. APPROVES GERMAN bf customers’ automobiles (E St. between 6th & 7th) FINANCE REPORTS State Secretary Says Period ; ) of Rebuilding Industry . Is Over. 1 n By Radio to The Star. BERLIN, Germany, October 2.—“We have given the country an absolutely honest statement about its fnancial ,” Ha aeffer, secretary of nce ministry, said in a special interview today, discussing the Bruening cabinet financial reforms just announced. “I should like to see any other coun- try which would show itself in its com- plete nakedness as we have dome. The German people and the rest of the world can see for themselves how things stand and what has to be done to im- prove the situation.” Stabilization Yet Difficult. 1 Replying to a question as to whether | --- the Bruening government is agitated , over strong attacks on reforms launched 3 by the Socialist and Hugenberg press, . ' . the latter calling the Bruening cabinet the “Young cabinet,” Herr Schaeffer declared: “Real stabilization of finances in Germany is impossible as long as billions in tributes must be pald and streams of blood are running from Ger- many’s open wound. “The press echo is exactly what we expected. We knew the Hugenbergers would talk like that. But you will notice by carefully examining the So- clalist criticism that they did not slam the door.” [ ] Berlin and all Germany today are immersed in discussion of these re- & forms, which are already recognized as the king pin—perhaps the crucial turn- ing point—of both state and individual prosperity. Not only politicians, but the man in the street, are deeply con- cerned and the parliamentary war which will rage around thess bills is o During October, THE HECHT [=was = =5 Welcome Wage Cut. In industrial and banking circles the reforms have found a favorable recep- . ° ° tion. The Deutsche Allgemeine Zeitung sees in them the “initiation of a great W1 no nowin e - Wage and price’reduction” and states £l that such a reduction is a vital question for uw‘?eople, the state and the eco- nomic life of Germany. - ° . tng ¥ age reduction mesns reduction of cost of production,” the paper says. dersold. We will meet any price |z&=ies s L petitive capacity of Germany in world . mrkeria. It l.ln()t dln!lnl a re({l{cbiun g( unemployment and consequently a grad- ual lifting of .the feeling of despair on identical merchandise. e el e T, S Labor Class Suffers. ‘The cuts in the ministers' salaries are not important economically, but are probably a wise demonstration to the German people and will take some of the wind out of Adolf Hitler's sails, Whose placards plastered in Berlin have been vociferously demanding just this thing. But there is no doubt that the labor class and lower officials will have s 1o bear the greater bulk of the burden That every department in the ERE===w= lower the cost of living. The govern- ment is expressing definite hope that store participates in Hecht |[¥ism= " One of the most significant aims of these reforms is strictly limiting na- tional expenditure during the next three years—a cut of nearly $200,000,000 yearly. 8. Parker Gilbert'’s argument On L ] that stabilization in the long run could be effected only by drastic cuts in ex- penditure—not by new taxes—is now accepted by the German government. ‘The period of rebuilding and nation- alizing German industry is now recog- nized to be over. This means that the stream of foreign capital into Germany / will be reduced and finally stopped, 50 that Germany’s foreign payments will Y have to be accomplished on the surplus ° . of its own economic apparatus. In e S a e lS ran other words, instead of paying repara- ‘/ tions by borrowing, Germany is now facing the fact that this must be done entirely by manufactured goods. On the basis of the present wage and price level, ° Germany has been working under a L . handicap, but the proposed reduction e mn OO as e in both wages and prices is now a defi- n w , nite part of the government program for ’ Germany to intensify her exports. (Copyright, 1930.) - 1 S. K. BARNES NAMED and priced lower than usua T mp— Utah Man Gets Post Made Vacent by Resignation of J. Leonard Townsend. That every merchandise offer- |.. .. .. old, of Salt Lake City, Utah, was ap- pointed yesterday secretary to Justice ° ° 3 Prederick L. Siddons of the District ndar S an ls Supreme Court to fil the vacancy mgisu O our sta hiaad by tha reiguation of % Tauoaey ‘Townsend. Mr. Barnes is the son of Claude T. Barnes, a lawyer, of Salt Lake, and was graduated from the Uni- versity of Utah and is now studying law 2 at_George Washington University. sold with our customary guar- S e G =2 & clerk in the office of Frederick M. Sackett, then United States Senator and now Ambassador to Germany. Later he was in the Census Office and antee of 1009 satisfaction. B TR e A. REX JOHNSON NAMED HEAD OF UTAH SOCIETY Other Officers Elected at Annual i Meeting—Senators Placed on Advisory Committee. Hundreds of Additional Help Employed | ... o e elected president of the Utah State Society at its annual meeting in the In anticipation of continued increased business and to RS Y & May was chosen secretary and G. Doug- give you better service during Hecht Month, we are em- g AT e the following, was elected: Senator Reed Smoot. nator Willlam H. King, ploying hundreds of additional salespeople and other Beprsseniative von 3. colton, ot hays and Dr. J. Stewart Williams. employes—our contribution to decrease the unemploy- : v . . . . 3020 Dent Pl. N.W. ment situation, stimulate more buying, and make for a Rarmahgpesmkibed ik . . 3 Rooms, Kitchen, resumption of prosperity all around. Bath and Porch, $40 ; elephone National Use Your Charge Account During Hecht Month T E E C T C\ 5000 5 For immediate delivery of The Special arrangements have been made to expedite the handling of charge purchases during H . H H O. E.'.'J ué“nd“hun;‘eu:g.y'w The Hecht Month. If you have no account with this store we urge you to open one now and i =) : ), Route Agent wil | collect st the end of each mont e rate enjoy its many privileges——New Account Department—First Floor. F Slreet at Seventb g“};/:’v.:enu per day and & cents